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8
Jul
To understand the impact of COVID-19 on agriculture insurance operations, GIIF conducted a survey with 11 of its implementing partners in Sub-Saharan Africa and Asia. Due to the pandemic, the general feedback on policy renewal and new business generation for the agriculture business line offers a concerning outlook. Many expect a decrease in farmer enrollment due to diminishing disposable income and travel restrictions affecting field visits and in-person product awareness workshops. Likewise, limited mobility for project monitoring teams, crop cut specialists and aggregators as well as...
7
Jul
Since our April blog , more field reports and anecdotal evidence have emerged to gain a more holistic picture of the COVID-19 impact on smallholder farmers. The spillover effects of this health crisis are unprecedented, spreading across all sectors with major damages to food systems, transportation, trade and tourism as well as altering businesses and daily lives around the world through control measures. In our work, we also see farmers suffering economic impact from business shutdown, movement constraints and supply chain disruption. For example, inputs/animal feed are not available or...
6
Jul
GIIF: In order to provide an introduction to our readers, could you please share with us the main priority areas of the InsuResilience Global Partnership and the activities under its Working Groups? Dr. Zwick: Launched at the COP23 in November 2017, the InsuResilience Global Partnership has the vision, to strengthen the resilience of developing countries and to protect the lives and livelihoods of poor and vulnerable people from the impacts of disasters by promoting the adoption and use of climate and disaster risk finance and insurance (CDRFI) solutions and approaches towards faster, more...
29
Apr
At the time of writing, disruptions on food production, agricultural supply chains and markets have not been materialized; however, the pandemic is directly affecting food systems through impact on food supply and demand, and indirectly through decreases in purchasing power as well as logistical barriers and trade blockages. Learning from past pandemic, for instance during the 2014 Ebola crisis, lockdowns in West Africa had several negative impacts on farmers’ livelihoods including curbing access to markets both for input purchase and produce sale as well as reducing the availability of...
29
Apr
With the outbreak yet to be contained, the COVID-19 crisis is steadily amassing damages across various sectors such as health, transportation, trade, tourism, to name a few. While the impact/pressure to agriculture sector is less pronounced, disruption in the value chains has been observed in dynamics of food supply and demand in conjunction of reducing purchasing power, logistical barriers and trade blockages. With the start of typhoon, monsoon and hurricane season in different parts of the world as well as weather uncertainty in the upcoming crop seasons in arid and semi-arid regions,...
21
Apr
Ingrid-Gabriela Hoven, Director General at Germany’s Federal Ministry for Economic Cooperation and Development (BMZ) reflects in an interview with GIIF on Germany’s commitment to fight climate change . At COP25, Germany pledged more than EUR 100million to support climate risk finance and insurance solutions under the InsuResilience Global Partnership, EUR10million of which are to support GIIF in 2020-2022. GIIF: What do you think about the outcome of the most recent COP25 in Madrid? COP25 stayed well behind expectations as it did not deliver concrete results in many crucial areas. Several...
Highlights This paper analyzes how a portion of the current disaster risk finance architecture is serving developing countries. We focus on the three regional risk pools— CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) (referred to throughout as “CCRIF”); African Risk Capacity (ARC); and Pacific Catastrophe Risk Insurance Company (PCRIC)—that offer parametric disaster insurance to developing countries. Disaster risk finance instruments, including insurance, should be deployed in combination to address the various “layers” of risk, but few countries appear to be...
There are many opportunities for the greater integration of Ecosystem-based Adaptation (EbA) and insurance for risk reduction, and many challenges that remain. The substantive engagement between the insurance and environmental sectors is relatively new. Thus, it is hardly surprising that few fully integrated Climate Risk Finance & Insurance (CRFI) & EbA products (e. g., reef insurance) currently exist, and that such solutions face some challenges. That said, there are many common interests and significant opportunities which could help improve integration of CFRI with EbA and more...
The course topics include critical concepts in named peril index insurance and essential knowledge and tools. Specifically, the part 2 – essential knowledge and tools include but not limited to fundamentals of risk modeling and decision making, basic opportunity assessment, base index product evaluation, product pricing, redesigned index product evaluation, detailed market analysis, and value of insurance to a financier. By the end of the course, participants will be able to 1) appreciate the need for and use of risk modeling and risk metrics in managing index insurance portfolios; 2)...
On Sept 23, 2019, the InsuResilience Global Partnership (IGP) announced its Vision 2025 and work plan at the UN Climate Action Summit in New York. In the communiqué, IGP committed to enhancing climate and disaster risk finance and insurance (CDFRI) as a solution to close the protection gap and emphasize the urgency of scaling up and accelerating risk financing in 2019 and beyond. In its Vision 2025 and Workplan, IGP dedicated to achieving ten goals, including: 500 million poor and vulnerable people covered against disaster and climate shocks by pre-arranged risk finance and insurance...
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